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2020 (3) TMI 116 - AT - Income TaxAssessment u/s 153C - addition based on papers found in search - HELD THAT:- Papers found and seized relates to the estimations, but not related to any income or expenditure of the assessee or investment made by the assessee which has bearing on the income. The AO did not make any addition on the basis of the loose sheets found during the course of search. DR also did not bring any decision of the Hon’ble Jurisdictional High court reversing the order of this Tribunal. Therefore, respectfully following the view taken by this Tribunal in the case of Sri Pattapagalu Venkata Rao [2019 (7) TMI 1030 - ITAT VISAKHAPATNAM] , we hold that the AO issued notice u/s 153C without having incriminating material or the material having impact on determination of income which is bad in law and hence, we do not see any reason to interfere with the order of the Ld.CIT(A) and the same is upheld. - Decided in favour of assessee
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